News Release 08/19/13

REGISTRATION OPENS FOR SEPTEMBER 5 WEBCAST IN FOCUS: OVERVIEW OF GASB PROPOSALS FOR FINANCIAL STATEMENT USERS

Participants in Live Webcast Can Earn Up to 1 CPE Credit

Norwalk, CT, August 19, 2013—Registration is now open for the upcoming Governmental Accounting Standards Board (GASB) webcast, IN FOCUS: Overview of GASB Proposals for Financial Statement Users. This live webcast, offered free of charge, will take place on Thursday, September 5, 2013, from 3:00 to 4:00 p.m. Eastern Daylight Time. Participants in the live broadcast will be eligible for up to 1 hour of CPE credit. (Please note that CPE credit is not available for group viewing of the live broadcast.)

The webcast will provide an overview of the GASB’s proposals on asset and liability measurement concepts and the measurement, application, and disclosure of fair value based on its plain-language due process document for users, Measurement Concepts for Assets and Liabilities and Fair Value Measurement and Application. Aimed at users of governmental financial information—for example, representatives from citizen groups (research organizations), those that participate in the lending process (bond analysts), and legislative and oversight bodies (legislative analysts)—its goal is to provide users with the background information they need to participate in the due process associated with the GASB proposals.

The areas covered will include:

The provisions of the GASB’s proposed Concepts Statement, Measurement of Elements of Financial Statements

The provisions of the GASB’s Preliminary Views, Fair Value Measurement and Application, and how they would affect:

How governments measure the fair value of assets

What assets are measured at fair value

The fair value information disclosed in the notes to the financial statements

How the proposals would impact the information that users receive.

At the end of the program, participants will understand the changes the GASB is proposing and their potential effect on the information that users receive in financial statements and note disclosures. They also will be asked to respond to a brief survey after the webcast that will provide the GASB feedback on its proposals. Participants will have the opportunity to email questions to the speakers during the event.

An archive of the webcast will be available on the GASB website through Wednesday, December 4, 2013. (CPE credit will not be available to those who view only the archived webcast.)

The GASB is the independent, not-for-profit organization formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments. Its seven members are drawn from the Board’s diverse constituency, including preparers and auditors of government financial statements, users of those statements, and members of the academic community. More information about the GASB can be found at its website, www.gasb.org.